THE STRATEGY OF ECONOMIC DEVELOPMENT OF INTEGRATED CORPORATE SYSTEMS: ESSENCE, STRUCTURE, AND SPECIAL ASPECTS OF FORMATION

The processes of formation and implementation of the economic development strategy of integrated corporate systems have many specific features due to the presence of active elements (companies - the participants of integrated corporate systems) and the variety of the internal corporate relations. The lack of a unified methodology for the formation of such systems causes the necessity for additional research. Based on the results of the research of approaches to the definition of the essence of the concepts of strategy and economic development and the features of the structure and management of integrated corporate systems, the author formulates the definition of the strategy of economic development of integrated corporate systems, highlights the functional elements of this strategy, and identifies the key features of the ICS economic development strategy. The paper presents the structuring of the elemental composition of the economic development strategy for the industrial integrated corporate system taking into account the main functional spheres of activity and functional types of the policy of economic development management of such systems. The conceptual difficulty of formulation of economic development strategy comes with the specific features of the structure and management peculiar for the integrated corporate systems. The paper specifies special aspects of formation of the strategy of economic development of an integrated corporate system: the hierarchy of the strategy planning system, the necessity of coordination of interests and consideration of the level of economic potential of the development of the participants of the system for the achievement of system-wide development goals, provision of concurrence of interaction of the system’s participants, the assessment of synergistic effect from the interaction of the system’s participants, etc. Considering these aspects allows ensuring the balance in the development of all functional areas of the integrated corporate system and the optimal trajectory of movement to the strategic goals with minimal fluctuations.

economic development, economic growth, economic development strategy, functional strategies of economic development, integrated corporate system